Bitcoin, Crypto currency, Blockchain

Bittrex lists a “Stable-Coin” TrueUSD, competition for Tether

21a3a04245747374fab96c74a9a6bf7e - Bittrex lists a "Stable-Coin" TrueUSD, competition for Tether

The American cryptocurrency exchange Bittrex has added a new trading pair the exchange, that a stable digital currency for users offering: TrueUSD. This Coin is to serve as a Tether replacement and the traders (according to the company) more security.

In contrast to other crypto-stable tokens are tied currencies to the value of traditional money. In this case, Tether and TrueUSD are both on the US Dollar paired, so that a Token is a Dollar value.

Stable tokens are useful because they protect the Trader from market fluctuations. However, by the Tether can be, as we discussed already several times in the past, market fluctuations and Manpulationen. Furthermore, it is proved in the case of a Tether to this day, officially, that the same amount of circulating Tehter by value is secured on a Bank account in US dollars.

The digital currency TrueUSD is also tied to the Dollar-value, and is issued by a trust token. The current market capitalisation is 9 million, is still relatively low but should rise in the near future for further dissemination.

Thus, the crypto market gets a more “stable crypto-currency” that could influence the market with increasing market capitalization. TrueUSD to be safe and to be 100 percent transparent as well as trustworthy as the company writes in a blog post:

TrueUSD offers token-holder’s full collateral, regular auditing, and legal protections to redeem TrueUSD for USD.

While Tehter is based on the Omni Layer (formerly Mastercoin), a platform, the Token Blockchain spends on the Bitcoin, is TrueUSD a ERC20-Token, based on the Ethereum Blockchain.

Trust token continues to work on that as soon as a user Fiat is using money in a trust account is protected and only the user has access to it. It should be possible to be able to the Fiat money at any time to withdraw.

To convince other skeptics, is TrueCoin started the company as a “Money Service Business” license, in order to strengthen the confidence in the project.

We see the project is rather critical, since here, too, in the future, inconsistencies can occur, which could influence the crypto market overall is strong and the investors in uncertainty. Currently, the project is still in its infancy, and the spread is rather low. Nevertheless, we will keep the TrueUSD in the eye.

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